#How Perpetual Protocol offers Leveraged Exposure to Crypto
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Can the Perpetual Protocol (PERP) make money from Automated Arbitrage?
They claim the Perpetual Protocol (PERP) can make money from automated arbitrage. Moreover, they claim Perpetual users can earn a share of protocol revenue in USD Coin (USDC) stablecoins. Hence, they claim the Perpetual Protocol pays stakers with fiat currency, US Dollars. To explain, USD Coin is a stablecoin that pays with US Dollars they hold in BlackRock (BLK) and BNYMellon (BK) trust…
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#Can the Perpetual Protocol (PERP) Generate Revenue in USDC?#Can the Perpetual Protocol (PERP) make money from Automated Arbitrage?#How Hot Tub Vaults Make Money#How Perpetual (PERP) Automates Arbitrage#How Perpetual Protocol offers Leveraged Exposure to Crypto#Protocol (PERP)#The US Dollar is DeFi’s future
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The Rise of Decentralized Perpetual Exchanges in the Crypto Market
Decentralized Perpetual Exchanges are revolutionizing the world of cryptocurrency trading by offering traders the ability to enter long or short positions with no expiration dates. Unlike traditional exchanges that involve set expiration for futures contracts, decentralized perpetual exchanges allow for continuous trading without the need to roll over positions or settle at predetermined dates. This gives traders more flexibility and control, creating opportunities for profit regardless of market conditions. By enabling users to trade with leverage, decentralized perpetual exchanges have become a game-changer, offering enhanced risk management tools and opportunities for traders of all experience levels.
Advantages of Using Decentralized Perpetual Exchanges
One of the most significant advantages of decentralized perpetual exchanges is the inherent security and privacy they offer. Since these platforms operate on decentralized blockchain networks, they eliminate the risks associated with centralized platforms that are vulnerable to hacking and data breaches. Users retain full control over their funds and private keys, ensuring that no third party has access to their assets. Additionally, the absence of intermediaries or central authorities in decentralized systems reduces the potential for manipulation, allowing for a more transparent and fair trading environment. This enhanced security and autonomy are key reasons why traders are increasingly flocking to these platforms.
Empowering Traders Through Defi Trading Platforms
DeFi (Decentralized Finance) trading platforms have taken the crypto industry by storm, providing individuals with unprecedented access to a wide range of financial services without the need for traditional banks or intermediaries. By leveraging blockchain technology, these platforms enable peer-to-peer trading, lending, and borrowing in a decentralized manner. One of the most compelling aspects of DeFi trading platforms is their ability to offer users control over their financial transactions and assets, reducing reliance on centralized systems. This shift towards decentralization is empowering traders and investors to operate in a more open, transparent, and secure environment, which is driving the growth of DeFi ecosystems.
How Decentralized Perpetual Exchanges Enhance Leverage Trading
Leverage trading allows traders to control larger positions in the market with a smaller initial investment, which can significantly amplify both potential profits and risks. Decentralized perpetual exchanges provide an innovative way to engage in leverage trading without the traditional restrictions and complexities of centralized platforms. These exchanges use smart contracts and decentralized protocols to facilitate leveraged positions, giving traders the ability to take on more exposure while mitigating the risk of counterparty default. With leverage available through decentralized perpetual exchanges, traders can maximize their potential returns in volatile markets while managing risk effectively, all within a secure and decentralized ecosystem.
The Role of Liquidity in Decentralized Perpetual Exchanges
Liquidity plays a crucial role in the success and efficiency of decentralized perpetual exchanges. In traditional markets, liquidity is typically provided by centralized market makers or institutional players, but in the decentralized world, liquidity is provided by individual traders and liquidity pools. The decentralized nature of these exchanges allows for greater market depth and a wider variety of assets, as liquidity can be sourced directly from users and liquidity providers. This peer-to-peer liquidity model ensures that trades are executed quickly and efficiently, with minimal slippage. As liquidity continues to grow on decentralized perpetual exchanges, these platforms become even more attractive for high-frequency traders and institutions.
Conclusion:
decentralized perpetual exchanges and DeFi trading platforms are leading a revolution in the way individuals engage with financial markets. These platforms offer a higher level of security, transparency, and autonomy compared to traditional centralized exchanges. By eliminating intermediaries and central authorities, decentralized systems empower traders and investors to take control of their financial assets and make informed decisions. As technology continues to evolve, the future of decentralized trading looks bright, and platforms like singulardex.com are at the forefront of this transformation, offering innovative solutions that cater to the needs of modern traders.
Blog Source Url :- https://singulardex.blogspot.com/2025/05/the-rise-of-decentralized-perpetual.html
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Unveiling the Premier Platforms for Crypto Futures Trading
In the fast-paced realm of cryptocurrency trading, identifying the optimal platform for engaging in crypto futures trading is pivotal for traders aiming to seize market opportunities effectively. With a plethora of platforms vying for attention, each flaunting distinctive features and advantages, discerning the ideal fit for your trading style and requirements can be a daunting task.
This comprehensive discourse aims to shed light on some of the foremost platforms tailored for crypto futures trading, spotlighting their defining attributes, strengths, and potential limitations.

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1. Binance Futures
As a titan in the global cryptocurrency exchange arena, Binance Futures commands reverence as a go-to option for countless traders. Boasting an intuitive interface, stringent security protocols, and an extensive selection of trading pairs, Binance Futures delivers a seamless trading journey. Traders stand to benefit from competitive fees, advanced trading tools, and access to a liquid market, rendering it an optimal platform for novices and seasoned traders alike.
2. BitMEX
BitMEX has carved a niche for itself by prioritizing perpetual contracts and high-leverage trading within the cryptocurrency derivatives landscape. Renowned for its advanced trading functionalities encompassing margin trading, futures contracts, and options trading, BitMEX beckons traders seeking elevated returns. Despite occasional critiques regarding its intricate interface and sporadic technical glitches, BitMEX's liquidity and market depth position it as a prime choice for traders aiming to maximize their profitability.
3. Bybit
Bybit has emerged as a darling among traders owing to its user-friendly interface, nominal trading fees, and innovative trading offerings. With support for perpetual contracts and inverse perpetual contracts, Bybit extends traders unmatched flexibility and convenience. Furthermore, Bybit's array of advanced order types, including limit orders, market orders, and stop-loss orders, caters comprehensively to traders across proficiency levels, augmenting their trading experience manifold.
4. FTX
FTX stands as a frontrunner in the cryptocurrency derivatives exchange sphere, lauded for its diverse range of trading products and features. Traders on FTX gain access to an expansive array of futures contracts, options, and volatility products, facilitating effective risk management and position hedging. Bolstered by its robust trading infrastructure, deep liquidity pools, and competitive fee structure, FTX remains a magnet for traders yearning for a sophisticated trading milieu.
5. Deribit
Deribit specializes in Bitcoin futures and options trading, furnishing traders with exposure to the world's preeminent cryptocurrency. Distinguished by its commitment to simplicity and efficiency, Deribit delivers a streamlined trading experience replete with advanced charting tools, customizable trading strategies, and round-the-clock customer support. While Deribit's trading volumes may lag behind larger exchanges, its reliability and emphasis on Bitcoin derivatives render it a preferred destination for numerous traders.

In Conclusion
In summary, the quest for the best platform for crypto futures trading necessitates a meticulous evaluation of various factors, encompassing trading fees, user interface intuitiveness, security provisions, and the breadth of available trading products. While each platform boasts its own unique merits and offerings, traders must conduct a thorough introspection of their individual requisites and preferences to make an informed decision.
Whether you're an aspirant trader embarking on your crypto journey or a seasoned aficionado in pursuit of advanced trading tools, rest assured, there exists a platform tailored to your distinctive needs.
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WEOWNCOIN Exchange: Emerging Crypto Companies Poised to Replace Industry Giants
WEOWNCOIN: Top Five Emerging Companies in the Cryptocurrency Industry That May Potentially Replace Some of the Larger Trading Companies
Last year, I expressed my frustrations to a few industry friends about how the 2022 crypto credit crisis fundamentally devastated my entire reporting realm, i.e., the cryptocurrency market structure. However, the past year has brought dramatic shifts in my reporting rhythm.
FTX, Genesis, Voyager, and Three Arrows have exited the crypto scene. The previous year was transformative, not just for the crypto industry but also for me as a writer. This also gave me the opportunity to focus on emerging small players, which is genuinely exhilarating. New founders and first-time entrepreneurs particularly stand out. They remain passionate, yet untainted by the challenges of running companies. They tend to be approachable and very friendly, making my job all the more enjoyable.
1.Ostium Labs: A cryptocurrency startup, Ostium Labs, secured a funding of $3.5 million, supported by investors such as General Catalyst, LocalGlobe, SIG, and Balaji Srinivasan. They are developing a digitized commodity perpetual swap protocol, aiming to attract both traditional commodity traders and crypto-native traders seeking a more transparent and flexible alternative to traditional derivatives platforms. The platform will support perpetual trades linked to assets like oil, Bitcoin, and major currency forex pairs, aiming to bring real-world assets to the blockchain. Ostium Labs collaborates with Chaos Labs and plans to use Chainlink for pricing. Ostium Labs aims to fill a market gap by offering direct on-chain exposure to a broader range of asset categories.
2.WEOWNCOIN-AI: The WEOWNCOIN-AI intelligent quantitative financial trading system is a fully intelligent cryptocurrency market trading system created by WEOWNCOIN with substantial investment. It encompasses a massive amount of data, cutting-edge risk control detection, and operates 24/7 to identify opportunities across various cryptocurrencies and market conditions. It can make trading decisions in milliseconds. Its characteristics are speed, safety, and efficiency. The system is maintained and upgraded entirely by top AI engineers globally. WEOWNCOIN has also established a risk control supervision fund compensation plan to ensure users benefit from the utmost safety when using AI. Currently, it is an emerging AI-intelligent trading platform in the cryptocurrency market.
3.Fractal: Co-founded by Aya Kantorovich and Alex Elkrief, the startup Fractal raised $6 million to develop a platform aimed at enhancing transparency in digital asset clearing and settlement. The company’s goal is to prevent the kind of leveraged trades that led to the bankruptcies of firms like Three Arrows Capital and FTX, allowing clients to monitor their positions in real-time and limiting loan collateral to blue-chip cryptos to alleviate liquidity issues faced by trading counterparts.
4.Turnkey: Led by former Coinbase Custody executives, the startup Turnkey secured $7.5 million in seed funding, aiming to provide a developer-centric platform for the safety and management of digital assets in the crypto industry. They strive to offer a flexible, programmable solution for generating wallets and signing transactions across blockchain networks, addressing the increasing complexity of on-chain transactions in crypto. According to data from Chainalysis, this move responds to growing concerns about the security of digital assets; last year alone, cyberattacks resulted in $3.8 billion of losses in the crypto sector.
5.Architect: Brett Harrison, former president of FTX US, raised $5 million from investors including Coinbase Ventures and Circle Ventures to establish the new company, Architect. Architect will focus on providing software trading tools for decentralized finance, catering to the needs of large investors and institutions. The firm aims to create institutional-level trading technology, allowing corporations, large traders, and a vast number of individual users to access decentralized protocols and centralized exchanges more easily.
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WEOWNCOIN: Top Five Emerging Companies in the Cryptocurrency Industry That May Potentially Replace Some of the Larger Trading Companies
WEOWNCOIN: Top Five Emerging Companies in the Cryptocurrency Industry That May Potentially Replace Some of the Larger Trading Companies
Last year, I expressed my frustrations to a few industry friends about how the 2022 crypto credit crisis fundamentally devastated my entire reporting realm, i.e., the cryptocurrency market structure. However, the past year has brought dramatic shifts in my reporting rhythm.
Now, I’d like to take some time to introduce a few emerging companies in the crypto industry that may someday replace the big firms that folded last year.
1.Ostium Labs: A cryptocurrency startup, Ostium Labs, secured a funding of $3.5 million, supported by investors such as General Catalyst, LocalGlobe, SIG, and Balaji Srinivasan. They are developing a digitized commodity perpetual swap protocol, aiming to attract both traditional commodity traders and crypto-native traders seeking a more transparent and flexible alternative to traditional derivatives platforms. The platform will support perpetual trades linked to assets like oil, Bitcoin, and major currency forex pairs, aiming to bring real-world assets to the blockchain. Ostium Labs collaborates with Chaos Labs and plans to use Chainlink for pricing. Ostium Labs aims to fill a market gap by offering direct on-chain exposure to a broader range of asset categories.
2.WEOWNCOIN-AI: The WEOWNCOIN-AI intelligent quantitative financial trading system is a fully intelligent cryptocurrency market trading system created by WEOWNCOIN with substantial investment. It encompasses a massive amount of data, cutting-edge risk control detection, and operates 24/7 to identify opportunities across various cryptocurrencies and market conditions. It can make trading decisions in milliseconds. Its characteristics are speed, safety, and efficiency. The system is maintained and upgraded entirely by top AI engineers globally. WEOWNCOIN has also established a risk control supervision fund compensation plan to ensure users benefit from the utmost safety when using AI. Currently, it is an emerging AI-intelligent trading platform in the cryptocurrency market.
3.Fractal: Co-founded by Aya Kantorovich and Alex Elkrief, the startup Fractal raised $6 million to develop a platform aimed at enhancing transparency in digital asset clearing and settlement. The company’s goal is to prevent the kind of leveraged trades that led to the bankruptcies of firms like Three Arrows Capital and FTX, allowing clients to monitor their positions in real-time and limiting loan collateral to blue-chip cryptos to alleviate liquidity issues faced by trading counterparts.
4.Turnkey: Led by former Coinbase Custody executives, the startup Turnkey secured $7.5 million in seed funding, aiming to provide a developer-centric platform for the safety and management of digital assets in the crypto industry. They strive to offer a flexible, programmable solution for generating wallets and signing transactions across blockchain networks, addressing the increasing complexity of on-chain transactions in crypto. According to data from Chainalysis, this move responds to growing concerns about the security of digital assets; last year alone, cyberattacks resulted in $3.8 billion of losses in the crypto sector.
5.Architect: Brett Harrison, former president of FTX US, raised $5 million from investors including Coinbase Ventures and Circle Ventures to establish the new company, Architect. Architect will focus on providing software trading tools for decentralized finance, catering to the needs of large investors and institutions. The firm aims to create institutional-level trading technology, allowing corporations, large traders, and a vast number of individual users to access decentralized protocols and centralized exchanges more easily.
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Around the Block #6: Bitcoin’s dominance alongside Coinbase customer behavior, the coming DEX…
Around the Block #6: Bitcoin’s dominance alongside Coinbase customer behavior, the coming DEX revolution, and other recent crypto news
Coinbase Around the Block, sheds light on key issues in the crypto space. In this edition, Justin Mart analyzes Bitcoin’s continued dominance alongside Coinbase customer behavior, the coming DEX Revolution, as well as other notable news in the space.
Bitcoin’s dominance and Coinbase customer behavior
Bitcoin’s market cap dominance relative to other cryptocurrencies is well known. The most commonly cited metric is relative market capitalization, comparing Bitcoin’s network value to other cryptos.
But how does Bitcoin’s dominance extend beyond market cap? Specifically, how does Coinbase customer behavior also demonstrate Bitcoin’s dominance? First, let’s take a look at Bitcoin’s market cap dominance over the years:
In general, Bitcoin’s position as the blue-chip asset has remained unchallenged. That said, we do see a trend where bull markets show increasing traction among alternative assets.
This could be for a variety of reasons, but one is largely psychological. As people feel good about their initial crypto investments (into Bitcoin), they branch out to find other possible categorical winners (as evident in the 2017 bull run). The converse is also possible, as prices drop and fear grips the market (2018–2019), a flight to crypto safety drove Bitcoin back to the forefront.
However we are only looking at market cap dominance, how the market in aggregate values these assets. An alternative metric would be how Coinbase customers trade these assets:
As we can see, the same large-scale trend is evident. Bitcoin is dominant, but was threatened in 2017, and regained dominance in 2018–2019. However, retail volume on Coinbase shows an increased proclivity to purchase and trade alternative assets.
This increasing drive is in part due to Coinbase’s continued addition of new assets, but a deeper cut shows that price volatility significantly swings consumer behavior toward non-BTC assets. This trend first appeared in 2017, and is now evident in large spikes. Notably in late 2019 (with Tezos, Chainlink, BAT, 0x, and Stellar) and again in early 2020 (driven by Ethereum, Tezos, and Chainlink).
On average, Coinbase customers trade non-BTC assets at a ~3% higher rate than their relative market caps would suggest.
So on one hand, Bitcoin is clearly dominant, but on the other hand Coinbase customers show a relative preference to also move into other assets.
The data bears this out. Among customers with at least 5 purchases, 60% start with Bitcoin but just 24% stick exclusively to Bitcoin. In total, over 75% eventually buy other assets.
Why is Bitcoin so dominant in the first place?
It’s the king for good reason:
Ethos and mission: Bitcoin is disrupting money, and is the world’s first currency with a truly fixed supply
Mindshare: Bitcoin is the pioneer and carries the most traction
Security: It’s the most secure PoW asset, and it’s not even close
Decentralization: Difficult to quantify, but Bitcoin is decentralized with the most nodes, largest distributed hashrate, and arguably the most conservative governance function
Infrastructure and liquidity: Bitcoin has the most mature services and the deepest pools of liquidity
Technical simplicity: Where other protocols seek to expand to novel use-cases, Bitcoin’s technology is already capable of achieving its mission
Creation myth and intangibles: Bitcoin just has the it factor. An anonymous creation myth, an explosive vision, undeniable traction, wrapped in a new economic model that is governed by math
Bitcoin is carrying the flag for the entire cryptocurrency space, and we should embrace it. But the retail preference to branch into other assets shows that new users come to crypto through Bitcoin, but generally begin to look for alternative assets and use-cases. In this sense, Bitcoin is also top of the funnel for broader crypto growth.
To the extent we believe that alternative assets and networks will provide differentiated services (beyond store of value and digital gold as Bitcoin is targeting), it will be important for the industry to build support for these other assets as well.
Bitcoin is king, and likely to remain king for a long time. But it is also paving the way for a thousand flowers to bloom.
The coming DEX revolution
Since the launch of Ethereum we have all speculated on the potential disruption of centralized exchanges with the emergence of decentralized exchanges (DEXs). This is the first of a two-part series examining the DEX space and the potential coming revolution.
Context
Crypto’s killer-app today is investment and speculation, gaining exposure to a technology that could be incredibly transformative in the future.
Most trading is performed on a centralized exchange where one platform holds customer funds, matches buyers to sellers, and offers crypto and fiat services to manage deposits and withdrawals. But centralized exchanges have their challenges. They reside in specific geographic locations and subject to stringent regulations, require customers to open accounts and deposit their funds, place limits and restrictions on their customer’s actions, and have been the target of malicious attackers. In general, they are centralized choke-points that stand in contrast to the open, decentralized ethos of cryptocurrency.
Decentralized exchanges shine where centralized exchanges struggle:
Safe: Funds are never transferred to any third party or generally subject to counter-party risk, you trade directly from your own wallet
Global and permissionless: There is no concept of borders, let alone restrictions on who can trade
Ease of use and pseudonymous: No account signup or personal details are required
Better execution (potentially): Theoretically, we should see global DEX liquidity accrue to a handful of winning platforms, enabling deep liquidity
Given their clear advantages, why haven’t DEXs already disrupted centralized exchanges?
Turns out, they also struggle with some significant challenges:
User experience: Trading on a DEX is performed through self-custodial wallets, which are confusing and intimidating for many
Speed and scale: All trades are settled on-chain, bottlenecked by block times and base transaction throughput. (Try sending 1000s of tx/sec on Ethereum today…)
Limited trading pairs: DEXs are confined to only trade tokens on single blockchain, there is limited interoperability. For example, it’s very difficult to trade BTC-ETH pairs on a DEX, because bitcoins reside on the Bitcoin blockchain, not on Ethereum (this is changing soon).
Limited feature parity: Centralized exchanges can quickly build new services, whereas DEXs must work within the limitations of each blockchain, and carefully ship new features that have been audited for security
Regulation: While DEXs are intended to be decentralized and resistant to regulatory pressure, some hybrid models have run into problems. Increased pressure from regulators could stifle development and traction.
But what gets us excited? All of the above issues are tractable. They boil down to product and technology challenges that have conceptually clear paths forward. Eventually, we should be able to create a DEX that rivals the trading experience of centralized exchanges, while retaining all their native benefits. When this day comes, centralized exchanges could be ripe for significant disruption.
Current landscape
DEXs today are generally differentiated by two main segments:
(1) How are trades settled?
DEXs generally either adopt a traditional Order Book model or an Automated Market Maker (AMM) model.
Order books match each buyer to a unique seller (identical to trading on centralized exchanges like Coinbase Pro). This model has clear advantages, where price discovery is transparent and efficient for highly liquid books, but can also be subject to some manipulation (spoofing, frontrunning, etc), usually in more illiquid books.
AMM models match each trade against a pool of capital in a smart contract, where the price of the trade is determined by the ratio of assets in the pool. It might sound confusing, but this model does not require a specific counter-party to each trade (trades are performed against a smart contract). This makes AMM models ideal for more illiquid tokens. As a downside, traders generally suffer higher slippage when trading large amounts.
(2) Where are trades settled?
DEXs either settle trades on the base blockchain (usually Ethereum), or look to gain more throughput by routing trades through a sidechain before final settlement is pushed back to the main chain.
While sidechain-based execution shows promise, there are still security, UX, and decentralization tradeoffs with current models, leading to limited traction today. But these are also tractable challenges, and promising models are scheduled to launch over the next couple years. There are also some hybrid models that fuse on-chain and off-chain models, and an emerging number of DEX aggregators that provide best execution.
Today’s popular DEXs almost exclusively settle trades directly on Ethereum, owing to its significant lead in developer traction, large token network, and broad infrastructure and wallet support.
Volume and traction
Due to DEX’s challenges around scale & throughput, user experience, and limited trading pairs, traction has been minimal compared to centralized exchanges. But DEX volume has been slowly growing in market share.
According to Dune Analytics, Uniswap leads in volume and traction today with its AMM model that provides liquidity advantages. DyDx is second with leveraged trading, borrow/lend capabilities, and a recently launched BTC perpetual contracts market similar to BitMEX.
DEX volume is still small in aggregate compared to centralized exchanges, but shows steady growth. Today, total DEX volume accounts for ~6% of Coinbase Pro volume, roughly equivalent to the volume of Gemini or Bittrex.
Looking into the future
DEX volume is small today, but is primed for substantial growth as the ecosystem matures. The timing is up for debate, but their challenges are solvable; it’s more a matter of when and not if.
Key areas to watch:
Improvements to self-custody: Making it dead-simple to manage crypto in your own wallet will increase the pool of users ready to trade on DEXs
Interoperability: The ability to bring assets on other blockchains together will enable a larger selection of trading pairs
Sidechain and L1 scaling advances: Improving the trading experience and mitigating frontrunning and griefing attacks will bring near UX-parity
Regulatory pressure: This is a double-edged sword — If regulators begin pressuring centralized exchanges, DEXs could emerge as the only viable option for some consumers. Conversely, if regulators pressure DEX developers and teams, these platforms may take longer to emerge at scale.
Emerging feature differentiation: DEXs are tied to programmable money, and they may create novel new derivatives and synthetic assets, combined with deep composability with other DeFi services, to create a truly differentiated product offering
How close are we to this reality? It’s difficult to say with certainty, but considering the long development timelines associated with shipping code to blockchains, and the slow-but-steady growth in those key areas to watch, it’s not unreasonable to think the DEX revolution is still a few years away.
Quick Hits: Commentary on notable news
UMA performs Initial Uniswap Offering
In a first for DeFi, UMA just performed an Initial Uniswap Offering (IUO). This process is essentially an ICO + Exchange Listing all in one, providing some notable advantages:
Uniswap is simple: ICOs required bespoke and audited smart contracts, and sold tokens directly to the public. With Uniswap, you forgo all the complexity and simply create a market and add liquidity. A 2-step process that takes ~5 min, no dev experience or audits required.
Liquidity and price discovery are built-in: ICOs offered a set amount of tokens at a set price, and only later found true price discovery when centralized exchanges listed their tokens. Uniswap provides instant price discovery and continuous liquidity with no need for market makers via their AMM model.
Issuers can profit from secondary trading: Providing liquidity to Uniswap brings trading-fee revenue (minus impermanent loss)
As a downside, there is no two-sided market initially (only buyers, no sellers), which results in a large pop in the price before sufficient price discovery takes place. And without any external source of tokens, it also means the price can never fall below the starting price. These mechanics induce a race to the blockchain to see who can be first to get a transaction mined and trade at the favorable initial prices.
This is exactly what happened with UMA, but the process was an overall success. A model has been shown to work, and it’s extreme simplicity combined with easy liquidity is compelling for many projects.
Personal token sales take off
Just this year:
Former Coinbase Lawyer Reuben Bramanathan tokenized his time and sold his tokens to the public via Uniswap
NBA star Spencer Dinwiddie tokenized his current NBA contract
Saint Fame tokenized commercial goods and developed a community
Alex Masmej and Kerman Kohli tokenized their future earning potential (!)
DeFi continues to push the boundaries of capital formation. These are the first glimmers of what could be new and pervasive funding mechanisms. Imagine high school athletes tokenizing future contracts as insurance against injuries, or up and coming artists tokenizing their future record sales.
But the details matter. In this case, if tokenization events constitute an investment contract, they could be deemed securities by the SEC. The tension between regulation and DeFi products is palpable, and could hold back adoption until we get further clarity from regulators.
New DEX derivatives platforms make a splash
Futureswap is a DEX with a novel combination of Compound, Uniswap, and BitMEX. They currently only offer a ETH-DAI book, but provide 20x leveraged trading that starts at an oracle’s price (no order book), with a modified Uniswap-style price curve (limiting slippage), kept in check by a dynamic funding rate (ala BitMEX).
It’s a novel idea, ideal for speculators because no underlying assets are swapped. During a 4-day alpha launch they posted $17M in trade volume and gained $1.5M in their liquidity pool, a rate that would place them at #2 in DEX volume only behind Uniswap!
Separately, DyDX launched Perpetual Bitcoin Contracts similar to BitMEX and with 10x leverage. In contrast to Futureswap, DyDx operates a true order book and provides a public-liquidation mechanism on underwater trades. This also marks the first time a Bitcoin-based trading book has been offered at scale through a DEX.
Taken together, these are nascent but strong data points that suggest DEX Derivatives markets could have strong product market fit.
Links
Coinbase news
Coinbase makes investing easy with dollar cost averaging
Coinbase welcomes Brett Tejpaul as Head of Institutional Coverage
Support for Compound Governance added to Coinbase Custody
Introducing the Coinbase Price Oracle
Coinbase: Bitcoin’s Third Halving Occurred This Week
News from the crypto industry
Robinhood raises $280M series F at $8.3B valuation to scale platform and push for global expansion
BlockFi launches mobile app and hires former Credit Suisse and AmEx execs, targets crypto card and int’l expansion
Dharma enables social payments via Twitter handles
Bitfinex launches social trading platform
FTX to launch US-based spot exchange in May; launches crude oil futures
Bitnomial approved by CFTC to offer BTC futures and options contracts
$166B asset manager Renaissance eyes participating in CME’s Bitcoin Futures markets
Fidelity taps ErisX exchange for crypto trading liquidity
Baakt CEO Mike Blandina steps down after 4 months
NYDFS grants Bitlicense to ErisX
Bittrex to launch Exchange Token in June
BitMEX to restrict Japanese users amidst increasing regulation
Greyscale inflows hit all-time-high, over $500M new capital in Q1
Genesis doubles loan issuance to $2B in record Q1
News from emerging crypto businesses
Clone of Compound suffers $25M hack, later returns all funds
Libra hires former Bush and Obama Under Secretary as first CEO; and Checkout.com joins
Visa teams up with Fold for their Bitcoin rewards card
Synthetix launches Optimistic Rollup beta to test scalability
Telegram asks US investors to leave their project and take 72% refund
BitGO’s wBTC added as collateral type for MakerDAO
Compound adds USDT for lending / borrowing
A16z raises $515m for second crypto fund; later invests in NEAR’s $21m round
Binance launches smart-contract blockchain similar to Ethereum
Tweets
One of the smartest and most successful investors is now long bitcoin 📈
Putin knows a thing or two about the blockchain
Hegic makes a bold claim that bugs are really just “typos”
Something Fun
Be sure to check out this incredible tale of a recent DeFi hack, investigation, and a remarkable return of all stolen funds!
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Around the Block #6: Bitcoin’s dominance alongside Coinbase customer behavior, the coming DEX… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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